A stock does not lose half its value in 10 months because of one bad quarter. Lululemon Athletica (LULU -2.90%) has fallen 54% in 2026 and now trades for about 8.5 times trailing earnings, a multiple the market usually reserves for businesses it believes are shrinking for good. Not long ago, this was a company that could charge $128 for leggings and sell them out quickly. It used to be the staple of athleisure clothing, but now it seems like somewhat of an afterthought. So the real question is whether the m ...